Bank of England Act 1946

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The Bank of England has an affect on everyone's personal finance I thought this would be the appropriate section to post this thread. If not, I apologies in advance if any mods move this thread into the appropriate area.

Since the Bank of England is the UK's debtor and is located in the City of London Corporation (a separate state from the United Kingdom) has any one on here looked at the BoE Act?

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The terminology is ambiguous especially when you read the "existing" capital stock is to be transferred to the UK government. Plus, its worth to acknowledge that this act/law does not give sovereignty over the City of London corporation. Therefore, the existing stock that was in the hands of individuals outwith the City of London corporation were nationalized, not the ones inside the City of London Corporation as the Bank of England is located in the City state.

[Minimalist]

 

The Bank of England Act 1946 does not mention the words Own or Ownership.

According to the act, Bank of England's Stock is to be Held by for the treasury by a third party and the Bank of England must pay 25% of it's profits to the treasury.